Promulgation of Internal Regulations on Lending and Loan Management of the Cooperative Fund
According to Article 31 of Decree 45/2021/ND-CP stipulating the issuance of internal regulations on lending, managing loan funds of cooperative funds as follows:
Cooperative funds issue internal regulations on lending and managing loan funds according to the authority prescribed in the Charter of organization and operation of the Cooperative Fund.
Internal regulations on lending and managing loan funds must comply with the provisions of this Decree and the operational characteristics of the Fund and ensure the following minimum contents: Borrowing subjects, borrowing conditions, lending methods, loan duration, lending interest rates, overdue interest rates, loan documentation, debt collection, procedures and processes for restructuring repayment terms, transferring overdue debts; procedures for appraisal, approval, and decision-making on lending; procedures for checking and supervising the borrowing, using loan funds, and repayment of customers; applying measures to secure loan funds, cases exempted from collateral based on the assessment results of risk levels and repayment capabilities of customers; decision-making authority for each security measure; risk management.
Respectfully!
